The empirical results in this note are based on state-level VAR estimates using private output, employment, and investment, as well as different measures of highway investment to capture, for each state, both the direct effects of highway investment in the state itself and spillover effects of...

This paper is an up-to-date survey of the literature on the effects of public investment on economic performance and therefore constitutes a comprehensive starting reference for academic researchers and policy makers alike. This is particularly important at a time when widespread recession and...

The empirical results reported in this paper suggest that only about 20% of the aggregate effects of public investment in highways in the US are captured by the direct effects on each state output of public investment in the state itself. The remaining 80% correspond to the spillover effects...